Deducted from investment returns before unit prices are determined and directly applied to your account.

Administration fee

$1.60 per week2 plus 0.15% p.a. of your account balance up to a total administration fee of $533.20 p.a.

Deducted monthly from your account or proportionally on joining the Fund or on withdrawal of your investment from the Fund.3

The Fund pays its administration costs from an administration reserve. For the 12 months to 30 June 2018 the Fund’s estimated costs were $2.85 per member per week (gross of tax).4

The Fund claims a tax deduction for administration costs each year. The amount of the deduction is also paid into the administration reserve.

Buy-sell spread

Conservative
Buy: 0.03%
Sell: 0.03%

Income-Focussed
Buy: 0.04%
Sell: 0.04%

My AutoSuper (Balanced)
Buy: 0.06%
Sell: 0.06%

Growth
Buy: 0.06%
Sell: 0.06%

Cash
Buy: 0.00%
Sell: 0.00%

Diversified Fixed Interest
Buy: 0.02%
Sell: 0.02%

Australian Shares
Buy: 0.05%
Sell: 0.05%

International Shares
Buy: 0.03%
Sell: 0.03%

Applied to daily unit prices to cover the cost of buying and selling units5.

Switching fee

Nil

N/A

Exit fee

$96

Applies to both full and partial transfers or rollovers (not cash withdrawals).6 The fee is deducted from the member’s account balance

Advice fees7

Nil

N/A

Indirect cost ratios

Nil

Nil

Other fees and costs

See ‘Additional explanation of fees and costs’ section below.

1. The investment fees are calculated looking back at 30 June each year and are therefore estimates. The actual investment fees for the current financial year may vary with large investment acquisitions, divestments and/or changes in portfolio managers. Investment fees are disclosed gross of income tax. Any benefit of an income tax deduction relating to these fees will be applied to members as part of the unit price for that option.
2. The flat rate component of the administration fee ($1.60 per week) is calculated each Friday and deducted on the last Friday of each month. In a financial year where there are 53 Fridays, this results in a deduction of $84.80 and a total administration fee up to $534.80 for any member who is in the Fund for the full year.
3. When you join or you withdraw your investment from the Fund part way through a month, you will only be charged for the days you were a member in that month. For example, if you were a member for 10 days you would be charged (the total administration fee) x 10/number of days in the month.
4. The actual administration costs will vary from year to year. Past costs are not a reliable indicator of future costs.
5. Buy-sell spreads are applied when transactions are processed to your account through the purchase or sale of units.
6. An exit fee is not charged for benefit payments where a condition of release has been met (for example, retirement, financial hardship, compassionate grounds, death, permanent incapacity or Departing Australia Super Payment (DASP)).
7. MTAA Super does not charge any advice fees. You will only be charged an advice fee if you agree to receive financial advice from Industry Fund Services (IFS). The initial consultation with an IFS adviser is at no additional cost to you. An advice fee will be discussed and agreed with you before any advice is provided.

Additional fees and costs apply. See 'Additional explanation of fees and costs' section for more information.

Additional explanation of fees and costs

Family Law fees

If your relationship breaks down, super can be treated as part of a family law property settlement.

There are two fees you may be charged as the result of a Family Law split – one for account information, and the other for splitting your super account.

Type of fee or cost

Amount

How and when paid

Fee to request information

$80

Payable by the person making the request at the time of the request

Fee to facilitate payment split

$80

Generally divided between both parties: half will be deducted from the member’s MTAA Super account and half will be deducted from the amount allocated to the spouse. If 100 % of the member’s account balance is paid to the spouse, the entire payment split fee will be deducted from the amount to be transferred.

Eligible MTAA Super members are automatically provided with default cover when they join the Fund (subject to terms and conditions). Insurance fees are deducted from members’ account monthly. For details of insurance fees, refer to the Insurance Guide.

Performance-related fees

MTAA Super pays performance-related fees to some investment managers when the relevant manager produces investment returns that exceed agreed targets. Any performance-related fees are included in the estimated investment management costs as per the above table and deducted from MTAA Super's investment returns before unit prices are determined.

Performance-related fees are estimated as at 30 June each year based on the previous 12 months and can change from year to year as demonstrated in the above table. The fees and costs for each investment option shown here are estimates based on the Fund financial statements for the financial years ended 30 June 2014 to 30 June 2017 and are gross of income tax. The figures set out in the table are the current figures at the date of the MTAA Super Member PDS. For more information, call us on 1300 362 415.

Borrowing Costs

MTAA Super invests in interposed vehicles which may borrow to purchase underlying assets. Borrowings are most frequently used by the Fund for its investments through interposed vehicles in unlisted property.

The costs associated with any borrowings are recovered from the revenues of the particular investment prior to the distribution of any earnings from the investment and do not form part of the Investment Fee for each investment option.

To the extent that borrowing costs are incurred in relation to specific investments, they represent an additional indirect cost to members in achieving the growth and earnings attributed to those investments.

The estimated borrowing costs borne by each of the Fund’s investment options will be dependent upon the proportion of interposed vehicles which utilise borrowing within each asset class and the actual asset allocation of each investment option. Borrowing costs will therefore vary across investment options.

The table below shows the borrowing costs. These are not included in investment fees:

Investment option

Borrowing Costs

Conservative

0.12%

Income- Focussed

0.18%

My AutoSuper (Balanced)

0.18%

Growth

0.17%

Cash

0.00%

Australian Shares

0.00%

International Shares

0.00%

Diversified Fixed Interest

0.00%

Borrowing costs are estimated as at 30 June each year based on the previous 12 months and can change from year to year. These costs do not form part of the investment fee. They are are deducted from the revenues of the relevant investment/s prior to distribution of any earnings to the Fund.